central london retail bulletin all the latest from nash bond & fsp
JULY 2014
in short • London’s Regent Street to deploy beacon technology – London’s Regent Street is set to deploy ‘beacon’ technology that will enable shoppers to receive personalised marketing content on the their mobile phones when visiting the mile long shopping street. • Estee Lauder have agreed to occupy all the retail at Fitzroy Place development – Exemplar have confirmed a letting to the cosmetics giant at 1 Fitzroy Place of 140,000 sq ft office and retail within the development. • London retail space to ‘radically increase’ in decade of development – London is set to benefit from a decade of development that will add some 10 million sq ft of retail space to the capital. • Covent Garden’s Henrietta Street gets menswear revamp – Henrietta Street in Covent Garden is to be repositioned as a premium menswear destination, with developer Capco looking to repeat the success of its recent regeneration of nearby King Street.
zone a movements the major streets West End
2014 Q2
3 Mnths
Bond Street*
£1300
Oxford Street*
£825
Regent Street*
£650
KenSINGTON High St*
£280
Piccadilly*
£300
Carnaby Street
£485
2.1%
Cov garden james st
£820
13.1%
high holborn
£250
Cheapside
£275
Bishopsgate
£275
Sloane Street
£825
Kings Road
£450
5.9%
Brompton Road
£660
10.0%
Jermyn street
£300
5.3%
*30 ft zones
6.5%
1 Yr
5 Yrs
10 Yrs
8.3%
91.2%
205.9%
6.5%
65.0%
83.3%
30.0%
116.7%
1.8%
9.8%
66.7%
114.3%
2.1%
61.7%
148.7%
13.1%
57.7%
72.6%
11.1%
61.3%
5.8%
1.9%
19.6%
1.9%
14.6%
57.1%
73.7%
108.9%
7.1%
55.2%
25.7%
29.4%
62.2%
200.0%
24.4%
12.5%
5.3%
Source:NashBond
www.nashbond.co.uk
www.fspretail.com
retail burn FSP’s SnapShop records good news stories about: Burberry, with a jump in annual profits and a return of Ben Dickens; Wahaca with the launch of a new fast-casual concept; Thomas Pink with interactive in-store technology. Not so good news recorded for: American Apparel with the board suspending founder Dov Charney; Bershka with plans by Inditex for the brand to exit its Oxford Street store; Prada, with a decline in first quarter profits.
Thomas Pink
Source: FSP
retailers in london opening
closing
retail news index FSP’s Retail News Indicator tracks the sentiment of news about Central London retailers.
retail news index up to JUNE 2014 000’s 120
Although the news about F&B retailers continues to hold news about Central London above the rest of the UK, the reversal in the sentiment about Clothing & Footwear retailers has pulled the All London index down.
115
110 105
100
95
90
12 12 12 12 12 12 12 13 13 13 13 13 13 13 13 13 13 13 13 14 14 14 14 14 14 n Jul ug pt ct ov ec an eb ar pr ay un Jul ug pt ct ov ec an eb ar pr ay un J J F F M A M J M A M J A Se O N D A Se O N D
Ju
Source : FSP
www.nashbond.co.uk
F&B
C&F
ALL LONDON
ALL UK
www.fspretail.com
the knowledge FSP continuously undertakes research on customers and retailing in the West End. Shopping Centres, Outlet Centres and increasingly Retail Parks rely upon an appropriate mix of fashion retailers to attract, engage and delight shoppers. Age and Image self-perceptions underpin fashion purchasing decisions and Fashion retailers tend to be positioned to serve specific market niches. FISH is the FSP consumer segmentation system that identifies 5 key groups amongst shoppers for fashion merchandise. It is equally applicable to shops, based on their targeted shoppers. It can be seen from the adjacent chart that the predominant FISH classification of central London retailers is Assured, the category Premium brands are most associated with. Assured shoppers are mobile, high spending, brand aware and fashion conscious.
London west end - Retail mix: FISH 100%
80%
28%
60%
71% 46%
53% 40%
82%
65%
74%
70%
Knightsbridge
Bond Street
Kings Road
20%
Regents Street
Young
Source : FSP
Assured
Sloane Street Family
East Oxford Street
West Oxford Street
Piccadilly
Classic
store opening Piquadro - the Italian luxury leather goods company has opened their first UK store on London’s Regent Street. After overseeing a successful retail expansion in China, Piquadro opened 67 Regent Street extended to 1,400 sq ft over two floors. Piquadro is known for its unique leather goods designs, such as the Blue Square and currently has over 108 stores around the world. Nash Bond acted for the Landlord, St Martins Property Corporation.
new west end statistics
15%
10%
5%
West end weekly footfall
AVERAGE WEEKLY FOOTFAll 0% % year on year change 15%
-5%
10%
-10%
REGENT STREET STREETSTREET REGENT STREET BONDBOND
000’s 7000
6500
OXFORD STREET
OXFORD STREET
-15%
5%
Jan
Feb
Mar
Apr
May
Jun
Jul
6000
0%
5500
5000
-5%
4500
-10%
4000 1
3 2013
5
7
2014
9
11
13
15
17
19
21
23
25
27
29
31
33
35
37
39
41
43
45
47
-15%
Week
-20% May
Source : NWEC
Jun
Jul
Aug
Sep
Oct
Nov
Dec13 Jan14
Feb
Mar
Apr
Source : NWEC
Nash Bond
FSP Retail
T. 020 7290 4555
T. 01494 474 740
E. info@nashbond.co.uk E. fspretail@fspretail.com W. www.nashbond.co.uk
W. www.fspretail.com
WEST END
WEST END